The 2020 Mid-Year Economic Update_long

The Goods and Services Deficit Increased in March

Year-to-date, the goods and services deficit decreased 3.7% from the same period in 2018.

The goods and services deficit was $50 billion in March, up $0.7 billion from $49.3 billion in February, revised, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

March exports were $212.0 billion, $2.1 billion more than February exports. March imports were $262.0 billion, $2.8 billion more than February imports.

The March increase in the goods and services deficit reflected an increase in the goods deficit of $0.5 billion to $72.4 billion and a decrease in the services surplus of $0.2 billion to $22.4 billion.

Year-to-date, the goods and services deficit decreased $5.8 billion, or 3.7%, from the same period in 2018. Exports increased $14 billion or 2.3%. Imports increased $8.2 billion or 1.1%.

Exports of goods increased $2 billion to $141.7 billion in March. Exports of services increased less than $0.1 billion to $70.3 billion in March.

 

Imports of goods increased $2.6 billion to $214.1 billion in March. Imports of services increased $0.2 billion to $47.8 billion in March.

 

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